Preheat oven to 350˚F. Line 12 muffin tins with liners or lightly grease.
In the bowl of a stand mixer fitted with a paddle attachment or a large bowl with a hand mixer, beat together the butter and granulated sugar until light and fluffy. Beat in the eggs one at a time, followed by the orange zest, vanilla extract, and almond extract.
In a medium bowl, combine the flour, baking powder, baking soda, and salt.
Mix 1/3rd of the flour mixture into the butter until just incorporated, followed by half of the milk, 1/3rd of the flour, the remaining milk, and the remaining flour.
Fill the prepared muffin tins 2/3 full. Bake in preheated oven until toothpick inserted in center comes out clean, about 20-22 minutes. Transfer to wire rack and allow to cool completely to room temperature.
To make the orange buttercream frosting:
In the bowl of a stand mixer fitted with a whisk or a large bowl with a hand mixer, beat together the softened butter and powdered sugar. Mix in the orange zest, vanilla extract, and salt.
Slowly add the orange juice, just enough to create a smooth and creamy buttercream frosting.
Transfer to a piping bag fitted with desired tip and pipe onto cooled, room temperature cupcakes. If desired, top the cupcakes with sprinkles for garnish.