Begin by creaming together 1 cup of softened unsalted butter and 1 cup of granulated sugar in a large mixing bowl until light and fluffy, about 3-5 minutes. Next, beat in 2 large eggs, 1 teaspoon of vanilla extract, and 1 teaspoon of almond extract until well combined and smooth.

In a separate bowl, whisk together 4 cups of all-purpose flour, 1 tablespoon of baking powder, and 1/2 teaspoon of salt. Gradually add the dry ingredients to the wet mixture, mixing until just combined. Chill the dough for at least 30 minutes.

Preheat your oven to 350°F (175°C). Scoop out about a tablespoon of chilled dough, flatten it slightly, place a dollop of peach preserves in the center, fold the dough around the filling, and roll it into a ball. Roll each ball in a mixture of granulated sugar and ground cinnamon.

Line a baking sheet with parchment paper, arrange the cookie balls, and bake for 12-15 minutes or until the bottoms are lightly golden. Keep an eye on them to avoid overbaking.

Remove the cookies and let them cool on the baking sheet for about 5 minutes. Transfer to a wire rack to cool completely.