Whisk together the all-purpose flour, almond flour, baking powder, salt, and cinnamon in a medium bowl until well combined. Set aside.
In a large mixing bowl, beat the softened butter and granulated sugar together on medium speed for 3 to 4 minutes until light and fluffy. Scrape down the sides halfway through.
Beat in the egg until fully incorporated, then add the vanilla extract and almond extract, mixing until combined.
Gradually add the flour mixture to the butter mixture on low speed, mixing just until the dough comes together and no flour streaks remain. Avoid overmixing.
Divide the dough in half, shape each portion into a flat disk, wrap tightly in plastic wrap, and refrigerate for at least 1 hour until firm.
Remove one disk from the refrigerator, let it sit for 5 minutes, then roll to about ¼-inch thickness on a lightly floured surface.
Cut out cookies with a round cutter (2-3 inches). For half the cookies, use a smaller cutter (¾-1 inch) to cut out centers. Place on parchment-lined baking sheets 1 inch apart.
Preheat oven to 350°F (175°C). Bake for 10 to 12 minutes until edges are just starting to turn golden. Cool on the baking sheet for 5 minutes, then transfer to a wire rack.
Once completely cool, dust the cutout tops generously with powdered sugar. Spread about 1 teaspoon of jam on the flat side of each solid bottom cookie, then place a powdered sugar-dusted top cookie on each, pressing gently.