Preheat oven to 400°F. Spread tater tots onto a rimmed baking sheet and bake for 30 minutes.
Meanwhile, slice hot dogs into 1/2" coins. Heat oil in a large skillet over medium heat. Add sliced hot dogs and taco seasoning. Cook, stirring frequently, until hot dogs turn golden brown, about 5 minutes.
Scatter hot dogs over crisp tater tots and top with black beans, corn, and cheeses. Bake for 10 minutes until the cheese is melted.
Top with tomatoes, red onion, jalapeno and cilantro. Serve with sour cream and lime wedges.