In a large pot, heat a splash of oil over medium-high heat. Add the ground beef and cook until browned, about 5-7 minutes. Drain excess grease.

Add the chopped yellow onion to the pot with the beef and sauté until translucent, about 5-7 minutes.

Stir in the minced garlic and cook for about 1 minute until fragrant.

Pour in the beef broth and add the diced tomatoes and green chilies, stirring to combine.

Add Italian seasoning, salt, and black pepper; stir well.

Add cubed potatoes and shredded carrots, mix thoroughly, then bring to a gentle boil before reducing to a simmer.

Simmer for 15-20 minutes until potatoes are tender. Stir occasionally.

Remove pot from heat and whisk in softened cream cheese until smooth.

Stir in milk and shredded cheddar cheese until melted and creamy.

Ladle soup into bowls and top with additional cheese, crumbled bacon, sour cream, and green onions.