In a large skillet, cook beef over medium heat until no longer pink; drain. Stir in the potatoes and contents of sauce mix, corn, tomatoes, milk, water and taco seasoning. Transfer to a greased 2-qt. baking dish.
Cover and bake at 350° for 65-70 minutes or until potatoes are tender. Sprinkle with cheese. Bake, uncovered, 5 minutes longer or until cheese is melted. Yield: 4-6 servings.