In a small bowl, combine the refried beans and 1/2 of the package of taco seasoning. Spread the mixture into the bottom of an 8x8 pan or a 9-inch pie plate.
In a medium bowl, combine softened cream cheese, sour cream, and 1/2 of the package of taco seasoning. Layer this on top of the refried beans.
Next, add the guacamole as a layer on top of the sour cream.
Add the toppings: cheddar cheese, tomatoes, black olives, and green onions.
Cover and chill for at least one hour before serving.