Preheat oven to 350.
Line a 12 count cupcake pan with liners, set aside.
In bowl of stand mixer whisk together flour, sugar, cocoa powder, baking powder, baking soda and salt.
Add in vanilla extract and eggs and beat until combined.
Add in milk, water and vegetable oil and mix until smooth.
Fill 2/3 full with batter and bake for 18-20 minutes until domed and toothpick comes out clean.
Remove from oven and let cool.
Meanwhile to make frosting beat together your butter and extracts until smooth.
Add in powdered sugar 1 cup at a time until combined.
Add in milk 1 Tbs at a time until desired consistency is reached.
Place in large piping bag fitted with an open star tip and pipe swirls on top of cooled cupcakes.
Sprinkle with chocolate sprinkles if desired.