Preheat your oven to 350°F (175°C) and line two baking sheets with parchment paper.
In a medium bowl, whisk together the flour, baking powder, baking soda, and salt. Set aside.
In a large bowl, using an electric mixer, cream the softened butter and granulated sugar until light and fluffy, about 2-3 minutes.
Add the eggs, one at a time, mixing well after each addition. Then add the vanilla and almond extracts, combining until fully mixed.
Gradually add the dry ingredients to the wet ingredients, mixing until just combined. Be careful not to overmix the dough.
Using a cookie scoop or tablespoon, drop rounded balls of dough onto the prepared baking sheets, spacing them a few inches apart.
Bake the cookies for 10-12 minutes or until the edges are golden. Remove from the oven and let them cool on the baking sheets for about 5 minutes before transferring them to wire racks to cool completely.
In a separate bowl, whisk together the powdered sugar and milk until you achieve a smooth icing consistency. If desired, add food coloring to tint the icing.
Once the cookies are completely cooled, drizzle or spread the icing on top and decorate with sprinkles as desired.
Let the icing set for about 30 minutes before serving.