In a large mixing bowl (or your stand mixer), beat together 1½ cups unsalted butter and 2 cups granulated sugar until light in color and fluffy on medium-high speed.
Add 4 large eggs, one at a time, with the mixer running on low. Turn the mixer up to medium and beat until well combined for about 2-3 minutes. Add the ½ teaspoon vanilla extract and ¼ teaspoon almond extract as the mixer is still going, mixing to combine.
Over a separate large mixing bowl, sift the 5 cups all-purpose flour, 2 teaspoons baking powder, and 1 teaspoon table salt together. Whisk to combine.
Slowly add the dry ingredients to the butter mixture, beating on low speed until just combined. While this dough is forgivable, use caution to not overmix the dough.
Place about 1 cup of the dough mixture onto parchment paper or wax paper that has been dusted with powdered sugar and cover with an additional sheet of parchment paper. Using a rolling pin, roll out to ¼-inch thickness. Repeat until all dough has been rolled out.
Stack the disks on a plate or in a shallow dish, separated between layers of parchment paper. Cover with plastic wrap and refrigerate for at least 12 hours or up to 36 hours.
When ready to bake the cut out cookies, position a rack to the center of the oven, preheat the oven to 400℉, and line cookie sheets with clean sheets of parchment paper.
Remove one disk of dough at time from the refrigerator. Lightly dust cookie cutters with powdered sugar and cut into shapes as desired. Place the cut-out cookies onto the prepared cookie sheets, leaving 2-inches of space between cookies. If adding sprinkles, do so now. Note on Scraps: Reroll scraps up to 3 times, refrigerating briefly if needed to allow the dough to chill.
Bake for 6-7 minutes or until JUST set, but not yet browned. Remove the cookies from the oven, place the cookie sheet on a cooling rack, and allow the cookies to sit on the baking sheet for 2-3 minutes to finish setting up.
After 2-3 minutes, gently remove the cookies from the tray and allow them to cool fully before icing or enjoying.
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Notes
Butter & Eggs: For best results, be sure to use room-temperature eggs and butter. For Measuring Flour: Do not scoop the flour out of the container/bag with your measuring cup. For accurate measurement, use a spoon to spoon to scoop the flour into the measuring cup. Then use the back of a knife to level off the top of the measuring cup--do not pack the flour down. Storing Uniced Sugar Cookies: Allow to cool, then stack cookies in an airtight and store at room temperature for up to 5 days. Alternatively, freeze layered with parchment for up to 2 months.Storing Iced Sugar Cookies: Chill the icing until set (about 1 hour), then store in an airtight container between layers of parchment paper in the refrigerator for up to 5 days or in the freezer for up to 1 month.