Preheat the oven to 350°F (175°C).
In a large bowl, combine the softened cream cheese and sour cream. Whisk until smooth and creamy.
Stir in the refried beans, drained green chiles, and taco seasoning until fully blended.
Add half (2 cups) of the shredded cheese and mix into the bean mixture.
Spread the dip mixture evenly into a greased 9×13-inch baking dish.
Sprinkle the remaining 2 cups of shredded cheese evenly over the top.
Bake in the preheated oven for 25–30 minutes, or until the cheese is completely melted and bubbly.
Remove from the oven and let cool for a few minutes. Add optional garnishes if desired, then serve warm with tortilla chips or crackers.
