In a large pot, heat 1 tablespoon of olive oil over medium-high heat. Add the chopped onion and sauté for about 5 minutes, stirring frequently, until the onion turns translucent and fragrant.

Next, add 4 cups of chicken broth, 1 can of Ro-tel diced tomatoes, 1 can of black beans (drained and rinsed), 1 cup of corn, and 1 chopped red bell pepper to the pot. Stir in 2 teaspoons of chili powder, 1 teaspoon of garlic powder, 1 teaspoon of ground cumin, and 1 teaspoon of smoked paprika. Bring the mixture to a boil.

Once boiling, reduce the heat to a gentle simmer. Allow the soup to simmer uncovered for about 5 minutes.

Cut 8 ounces of softened cream cheese into small cubes and add it to the pot while stirring constantly. Cook for approximately 3–5 minutes until it completely melts.

Stir in 2 cups of shredded cooked chicken, ensuring it's evenly distributed. Cook for an additional 5–7 minutes, allowing the flavors to meld.

Finally, taste the Chicken Taco Soup and season with salt and pepper to your liking. Serve with optional toppings.