Set your Instant Pot to the sauté setting. Add the ground beef and sauté for about 5 minutes until browned, breaking it apart with a wooden spoon.
Add the diced onion and minced garlic to the beef, continuing to sauté for another 2-3 minutes until the onion is softened.
Stir in the chili powder, cumin, paprika, salt, and black pepper, mixing well to evenly coat the beef.
Pour in the beef broth (or water) and diced tomatoes with their juice. Stir to combine all ingredients.
Secure the lid on the Instant Pot and make sure the valve is set to sealing. Cook on high pressure for 10 minutes.
Once cooking is complete, carefully perform a quick release of the pressure. Open the lid once the pressure has fully released.
Stir the beef mixture well, and let it sit for a couple of minutes to thicken if desired.
Serve the seasoned ground beef in taco shells or tortillas, adding your choice of toppings.
Feel free to customize the toppings to suit your taste!
Leftovers can be stored in an airtight container in the refrigerator for up to 3 days.