Can we eliminate the penalty for estimated tax underpayment since we are no longer self employed and haven't been for over a year?

[ChrisJ]

If you don't pay your tax or you pay an insufficient amount of tax through withholding, you might also have to pay estimated taxes. If you are self-employed, you generally have no withholding and make estimated payments. If you are employed, you generally have withholding and have a tax refund or balance due when you file annually. 

The law allows the IRS to waive the penalty if:

1. You didn't make a required payment because of a casualty event, disaster, or other unusual circumstance and it would be inequitable to impose the penalty, or
2. You retired (after reaching age 62) or became disabled during the tax year or in the preceding tax year for which you should have made estimated payments, and the underpayment was due to reasonable cause and not willful neglect.

https://www.irs.gov/taxtopics/tc306.html