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Preheat oven to 350ºF.
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Line 12 muffing cups with paper liners.
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In medium bowl, whisk together the flour, baking powder and salt.
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In a large bowl, beat the sugar and 1/2 cup of butter at medium speed for 2 min or until smooth and creamy.
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Add eggs one at a time, beating well after each addition.
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Beat in 1 tsp vanilla.
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At low speed, alternately beat in four mixture with milk until incorporated, beginning and ending with flour mixture.
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Stir in 1 cup chocolate chips.
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Fill paper liners about 3/4 full with the batter.
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Bake for 23-28 min or until a toothpick inserted in center comes out with just a few crumbs attached. If the toothpick penetrates a chocolate chip, test another spot.
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Cool in pan on wire rack for 15 minute.
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Remove from pan and cool completely.
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In a large bowl, beat the cream cheese and 2 Tbs butter at medium speed until blended and smooth.
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Beat in 1/2 tsp vanilla and almond extract.
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At low speed, beat in powdered sugar until well blended and smooth.
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Spread cupcakes with frosting and sprinkle with the remaining 1/4 cup chocolate chips.