In a medium-sized bowl, whisk the flour and powdered sugar together until well blended.

In a large bowl, beat the butter, with an electric mixer on medium speed, until pale and fluffy. Beat in the extracts until well combined. Add the flour mixture and beat just until incorporated. The dough may seem crumbly at first, but it will come together.

Divide the dough into 2 portions. Roll the dough between 2 sheets of parchment paper to 1/4-inch thickness. Place the parchment-covered dough onto trays and chill in the refrigerator for at least 1 hour or up to overnight.

Preheat the oven to 350ºF (180ºC). Line 2 cookie sheets with parchment paper.

Cut out 36 heart shapes with a 1 1/2-inch cookie cutter. Place the hearts about 2 inches apart onto the cookie sheets. Sprinkle the cookies with sparkling sugar. Bake until the edges start to turn light golden brown, about 8-9 minutes. Transfer the cookies to a cooling rack.