Preheat oven to 425 degrees F and line 12 cupcake wells with paper liners.
In a small bowl, combine 1 cup cake flour, 1 teaspoon baking soda, 1 1/2 teaspoons cinnamon, and 1/2 teaspoon salt. Set aside.
In the bowl of a stand mixer, combine 2 large eggs, 3/4 cup canola oil and 1 cup sugar. Mix on medium high speed until light and fluffy, about 5 minutes. Add 1/2 teaspoon almond extract and mix until combined. Add flour mixture and fold together just until mixed. Fold in 1 1/2 cups shredded carrots.
Fill all 12 paper liners with batter. Bake at 425 F for about 5 minutes, then reduce heat to 350 degrees F and back until golden brown on top and a toothpick inserted comes out clean, about 20-25 minutes total. As soon as you remove them from the oven, transfer them to a wire rack to cool.
To make the frosting, blend 4 tablespoons butter and 4 tablespoons cream cheese together on high speed until light and fluffy, about 5 minutes. Scrape sides, add 1 tablespoon orange zest, 1 teaspoon cinnamon, and 1/4 teaspoon almond extract, and mix until combined. Add 2 cups confectioners sugar incrementally, blending slowly to combine and then on high speed to really mix. You can frost 12 cupcakes with a thin layer or 8 cupcakes with a big mound of frosting.
Notes
Nutritional information is based on one cupcake with frosting.