Sift together the flour, baking soda, baking powder and salt.
In a large mixing bowl, cream together (using a whisk, electric mixer or stand mixer) the butter and sugar until smooth. Add egg and vanilla and beat for an additional minute. Slowly add the dry sifted ingredients to the wet ingredients until all is incorporated.
Preheat oven to 375 degrees.
Roll the dough into two equal balls and wrap with plastic wrap. Place in the refrigerator for 30 minutes to 1 hour. After refrigerated, roll out each ball, one at a time, to about a 3/16-inch to ¼-inch thickness on a lightly floured surface. Cut with cookie cutters dusted with flour (to avoid sticking). Place on a cookie sheet lined with parchment paper and bake for 7-10 minutes, or until the cookies appear to almost turn golden around the edges. The cookies should look like they aren't quite done. Remove from oven and let cool on cookie sheet for 3-4 minutes before transferring to a wire rack to fully cool.
In a small bowl, combine the sugar and milk until smooth. Mix in corn syrup and almond extract until smooth and glossy. If too thick, add 1 tsp. milk or corn syrup. If you're wanting to make several different colors, separate the icing into separate bowls prior to adding any food coloring. Add drops of food coloring to reach your desired intensity of color. Spread over completely cooled cookies using a spoon or knife. Let sit until icing is hardened, about 30 minutes to one hour.