Preheat the oven to 350°F (175°C). Grease and flour an 8-inch round cake pan.
In a medium bowl, whisk together the all-purpose flour, baking powder, baking soda, and salt. Set aside.
In a large bowl, beat the softened butter and granulated sugar together with an electric mixer on medium speed until light and fluffy, about 3 minutes.
Add the eggs one at a time, beating well after each addition.
Mix in the sour cream, fresh lemon juice, lemon zest, vanilla extract, and almond extract until combined.
Gradually add the dry ingredients to the wet ingredients, alternating with the milk, beginning and ending with the dry ingredients. Mix until just combined; do not overmix.
Pour the batter into the prepared cake pan and smooth the top with a spatula.
Bake for 30 to 35 minutes, or until a toothpick inserted into the center comes out clean.
Remove the cake from the oven and allow it to cool in the pan for 10 minutes, then transfer to a wire rack to cool completely.
While the cake cools, prepare the lemon glaze by whisking together the powdered sugar, fresh lemon juice, and honey in a small bowl until smooth.
Once the cake is completely cool, drizzle the lemon glaze evenly over the top, allowing it to drip down the sides.
Let the glaze set for about 15 minutes before slicing and serving.