I will be moving for a job shortly, and my new employer is reimbursing the costs. If I understand correctly the reimbursement is taxable, but most of it is deductible. If all of it were deductible there would be no net change to my income taxes. However some things are reimbursable but not deductible, for example meals during my move. I'm confused because currently, if for example my employer sends me to a conference, my meals are reimbursed and this amount isn't reported on my taxes. What's the difference? Or am I misunderstanding something?
Some reimbursements are taxable and some are not, that depends on the type of reimbursement and the reporting required.
If the reimbursement is from an accountable plan and for qualified expenses - it is not taxable. Otherwise it is.
See the relevant section of IRS Publication 521 for details.