Preheat oven to 325. Line 48 mini muffin cups with non-stick spray.
Sift the flour, baking powder, baking soda and salt into a medium bowl and set aside.
In a large bowl, using an electric mixer on medium speed, beat the butter, sugar and almond paste until smoothly blended, about 1 minute.
Add the eggs one at a time, mixing until each is blended into the batter.
Add the vanilla and almond extracts and beat for 2 minutes or until the batter is smooth.
On low speed, add the flour in 3 additions and the buttermilk in 2 additions, beginning and ending with the flour and mixing just until the flour is incorporated and the batter looks smooth.
Fill each cup with a slightly rounded tablespoon of batter. Bake just until the tops feel firm and a toothpick comes out clean, about 15 minutes. Cool in pans for 5 minutes.
Remove from pans and cool on a wire rack.
To make the glaze, in a small bowl, whisk the powdered sugar, melted butter, 1 1/2 tablespoons milk and almond extract until smooth. Add up to 1 tablespoon more milk if needed for the proper consistency.
If spread on warm cakes, the glaze will melt and become shiny. If spread on cooled cupcakes, the glaze will be white and opaque. The glaze will become firm as it sets.