Bring a large pot of salted water to a boil. Add the elbow macaroni and cook according to the package instructions until al dente, usually about 7 to 8 minutes. Drain and set aside.
In a large saucepan, melt the butter over medium heat. Once melted, whisk in the flour to create a roux. Keep whisking constantly for about 2 minutes until the mixture is golden and smooth — this cooks out the raw flour taste.
Slowly pour in the milk while whisking continuously to avoid lumps. Continue cooking over medium heat, stirring often, until the sauce thickens and coats the back of a spoon, about 6-8 minutes.
Add the smoked paprika, garlic powder, onion powder, salt, and pepper, stirring to combine all the flavors evenly.
Lower the heat and gradually add the cheddar, mozzarella, and Parmesan cheeses, stirring until melted and the sauce is creamy and smooth.
Add the drained macaroni to the cheese sauce and stir until the pasta is fully coated.
Preheat your oven to 350°F (175°C). Transfer the mac and cheese mixture to a greased baking dish. Sprinkle the cooked and crumbled turkey bacon evenly over the top, followed by the breadcrumbs for a crunchy crust.
Place the dish in the oven and bake for 20-25 minutes or until the top is golden brown and crispy.
Remove from the oven and let it cool slightly. Garnish with fresh parsley if desired, and serve hot.