Heat the olive oil in a large skillet over medium heat.
Add the ground beef to the skillet, breaking it up with a spoon as it cooks. Sprinkle in the garlic powder, chili powder, salt, and pepper. Cook until the beef is fully browned, about 7-8 minutes.
Stir in the nacho cheese sauce and mix until the beef is well coated. Allow it to heat through for another 2-3 minutes.
While the beef mixture is heating, warm the flour tortillas in a separate pan or the microwave until pliable.
To assemble the wraps, place a generous scoop of the beef and cheese mixture in the center of each tortilla.
Top with shredded lettuce, diced tomatoes, onions, and jalapeños if using.
Fold the bottom of the tortilla up over the filling, then fold in the sides and roll it tightly.
Wrap each filled tortilla in aluminum foil if desired, or serve immediately with your favorite dipping sauce.