Heat oven to 350°F. Grease baking sheet. Sift together dry ingredients. Cream butter and sugar together 5 minutes till light and fluffy. Add eggs one at a time and beat till well combined. Add peels, vanilla and almond extracts. Fold in dry ingredients and nuts, being careful not to overmix. Shape dough into a flattish log approximately 3 inches wide and a length that comfortably fits your baking sheet. If necessary, make 2 logs. Lay the logs on prepared sheet. Bake 20 minutes. Remove from oven and let cool. Using a serrated bread knife, cut the log or logs crosswise into 3/4 inch wide pieces. Lay cookies cut sides down on a greased cookie sheet and return to oven for 15 minutes longer, turning over halfway through. Remove from oven and let cool.